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Tax Revenue Boom: US Economy Just Fine Thankyou!  
User currently onlineMaverickM11 From United States of America, joined Apr 2000, 16934 posts, RR: 48
Posted (9 years 10 months 5 days 12 hours ago) and read 938 times:

http://online.wsj.com/article/0,,SB108742698174139445,00.html?mod=opinion%5Fmain%5Freview%5Fand%5Foutlooks

"The just-released quarterly survey of the Rockefeller Institute of Government shows that state coffers rose in the first quarter of 2004 by 8.1% year over year, the fastest rate since the second quarter of 2000 and faster than the median growth rate of 6.6% from 1997 to 2000. This marks the fifth straight quarter of overall state revenue growth and builds on the 7.3% increase of the 2003 fourth quarter. "

"Meanwhile, across the country, Governor Arnold Schwarzenegger's decision to hold the line against tax hikes is being rewarded, as California's revenue increased by 11.1%, including double-digit gains in personal, corporate and sales taxes. Estimated 2004 tax payments on non-wage income in the Golden State also rose by 18.4% in April, suggesting even stronger revenues to come"

New York, Virginia, Ohio, and Florida tax revenues are all up double digits as well.





E pur si muove -Galileo
20 replies: All unread, jump to last
 
User currently offlineAloges From Germany, joined Jan 2006, 8616 posts, RR: 43
Reply 1, posted (9 years 10 months 5 days 12 hours ago) and read 931 times:

Just for information, how much has revenue decreased from 2000 to 2002 due to Bush's tax cuts?


Walk together, talk together all ye peoples of the earth. Then, and only then, shall ye have peace.
User currently onlineMaverickM11 From United States of America, joined Apr 2000, 16934 posts, RR: 48
Reply 2, posted (9 years 10 months 5 days 12 hours ago) and read 924 times:

And again: Wholesale Prices Jump; Jobless Claims Dip

http://www.nytimes.com/aponline/business/AP-Economy.html



E pur si muove -Galileo
User currently offlineJeffM From United States of America, joined May 2005, 3266 posts, RR: 52
Reply 3, posted (9 years 10 months 5 days 12 hours ago) and read 923 times:

Achim, this may be a shocker to you... but...

Any time you pay less tax....it's a good thing.


User currently offlineJwenting From Netherlands, joined Apr 2001, 10213 posts, RR: 19
Reply 4, posted (9 years 10 months 5 days 12 hours ago) and read 915 times:

Weird isn't it Aloges, that despite lower tax rates the actual tax revenue goes up.

Your socialist little mind can't comprehend that the economy benefits from a lower tax rate, increasing taxable revenue of companies and taxable income of people which might yield total higher taxes as a result.

But then, you WANT the economy to be bad because unhappy people are more likely to follow your ideals of socialist world revolution and the divine rule of the Party secretariat.



I wish I were flying
User currently onlineMaverickM11 From United States of America, joined Apr 2000, 16934 posts, RR: 48
Reply 5, posted (9 years 10 months 5 days 12 hours ago) and read 912 times:

"Any time you pay less tax....it's a good thing."

AMEN!!

Now if we could convince every goverment spnosored program/boondoggle that a decrease in spending GROWTH is not a CUT in spending....and that, heaven forbid, a cut in spending is a good thing for the vast majority of Americans!



E pur si muove -Galileo
User currently offlineN6376m From , joined Dec 1969, posts, RR:
Reply 6, posted (9 years 10 months 5 days 12 hours ago) and read 910 times:

Algoes,

State tax revenues have nothing to do with federal tax cuts.

In fact, one of the criticisms of the Bush tax cuts is that they created all sorts of weird answers for state taxpayers. For example, the bonus depreciation provisions including in the Bush federal tax cuts did not necessarily apply to state income taxes. Therefore, your state and federal depreciation deductions didn't match.

Instead of just blindly criticizing, educate yourself, then ask an intelligent question.


User currently offlineL-188 From United States of America, joined Jul 1999, 29690 posts, RR: 59
Reply 7, posted (9 years 10 months 5 days 12 hours ago) and read 911 times:

I would like to take a moment and thank the Austrian and Chicago schools of economic thought, who pointed out this little phenomenon out.


OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineAloges From Germany, joined Jan 2006, 8616 posts, RR: 43
Reply 8, posted (9 years 10 months 5 days 12 hours ago) and read 910 times:

Would anyone be able to answer my question, instead of bringing on the 2,981,582th version of "Believe me, this is happening because/despite Bush is President"?  Yawn


Walk together, talk together all ye peoples of the earth. Then, and only then, shall ye have peace.
User currently offlineN6376m From , joined Dec 1969, posts, RR:
Reply 9, posted (9 years 10 months 5 days 12 hours ago) and read 903 times:

Aloges,

Your question makes no sense. That's like asking, can somebody tell me how much the Atlantic Salmon catch has declined because of the Bush tax cuts? The two - state tax receipts and federal tax changes - are completely unrelated.

Instead of being a smart ass - read what gets posted.


User currently offlineMD-90 From United States of America, joined Jan 2000, 8494 posts, RR: 12
Reply 10, posted (9 years 10 months 5 days 12 hours ago) and read 900 times:

Now if we could convince every goverment spnosored program/boondoggle that a decrease in spending GROWTH is not a CUT in spending....and that, heaven forbid, a cut in spending is a good thing for the vast majority of Americans!

Can I get an AMEN!

User currently offlineAloges From Germany, joined Jan 2006, 8616 posts, RR: 43
Reply 11, posted (9 years 10 months 5 days 12 hours ago) and read 893 times:

Any question makes sense for the one that asks it.

Instead of calling me a socialist, a smart ass or what not, you could just answer my question.

I know that state taxes are not much of the FedGov's business, but why am I being attacked for simply asking that question? Is it because you folks want to have a "kiss Bush's rear end" fest or what? If you want that, then you'll have to live with spoilers.



Walk together, talk together all ye peoples of the earth. Then, and only then, shall ye have peace.
User currently offlineL-188 From United States of America, joined Jul 1999, 29690 posts, RR: 59
Reply 12, posted (9 years 10 months 5 days 12 hours ago) and read 892 times:

Honestly I don't know.

But again, any numbers need to be taken with the realization that part of that would have decreased due to the 2000 recession anyway.



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineAloges From Germany, joined Jan 2006, 8616 posts, RR: 43
Reply 13, posted (9 years 10 months 5 days 12 hours ago) and read 890 times:

Add to that the aftermath of 9/11, which is when things really went down the drain.


Walk together, talk together all ye peoples of the earth. Then, and only then, shall ye have peace.
User currently offlineL-188 From United States of America, joined Jul 1999, 29690 posts, RR: 59
Reply 14, posted (9 years 10 months 5 days 12 hours ago) and read 887 times:

And the Accounting scandals, which involved tax years prior to him taking office.

Frankly I don't think many people realize how bad that recession should have been. Truth be told it was fairly mild, and I do have to give credit with those tax cuts keeping money in the economy.



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineMD-90 From United States of America, joined Jan 2000, 8494 posts, RR: 12
Reply 15, posted (9 years 10 months 5 days 11 hours ago) and read 880 times:

Too bad that the federal government doesn't have to have a balanced budget every year like most states do, Alabama included.

I'll bet California doesn't have to have a balanced budget either, and look where it got them.


Bush had better cut federal spending his second term.


User currently offlineN6376m From , joined Dec 1969, posts, RR:
Reply 16, posted (9 years 10 months 5 days 11 hours ago) and read 874 times:

Most states are constitutionally (state constitution not federal constitution) required to balance their budgets. However, the US Supreme Court ruled operative provisions of the Graham Rudman Hollings Balance Budget Law unconstitutional because it imposed automatic spending cuts. The Court determined that the automatic cuts were an intrusion on the separation of powers.

Furthermore, most state governors have the line-item veto, which drastically reduces the ability of special interest within the legislative branch to add pork to otherwise necessary pieces of legislation. If such pork does get added then the governor can cut it out without vetoing the entire bill.

I strongly believe that a line item veto amendment should become part of our constitution. However, the Congress would never approve this because it would substantially weaken the power of the power brokers within the Congress. Therefore the only way such an amendment could come into law would be if 2/3 of the states got together and called for a Constitutional convention to propose such an amendment. After the convention, 3/4 of the states would have to then ratify the amendments. Not too likely.

States like Alaska would oppose such a change because their Senator throughs a lot of pork their way - pork that would be threatened if the President could veto specific items in a spending bill.


User currently offlineL-188 From United States of America, joined Jul 1999, 29690 posts, RR: 59
Reply 17, posted (9 years 10 months 5 days 11 hours ago) and read 870 times:

As much as I appreciate that pork, I do wish we would ween ourselves off of it, so that the independence movement would be that much stronger.




OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineN6376m From , joined Dec 1969, posts, RR:
Reply 18, posted (9 years 10 months 5 days 11 hours ago) and read 868 times:

And that my friends is why we don't balance our federal budget for any length of time. We're no different than the crack addicts - people need the pork.

L-188 hit the nail on the head.

BTW - what's this "independence movement"? Does Alaska want out of the union?


User currently offlineL-188 From United States of America, joined Jul 1999, 29690 posts, RR: 59
Reply 19, posted (9 years 10 months 5 days 11 hours ago) and read 865 times:

Some of us do.

http://www.akip/org



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlinePhaeton From Germany, joined Jan 2004, 406 posts, RR: 2
Reply 20, posted (9 years 10 months 4 days 11 hours ago) and read 836 times:

can somebody tell me how much the Atlantic Salmon catch has declined because of the Bush tax cuts?

I would say that it has stayed at a constant rate.  Big thumbs up



"History will be kind to me for I intend to write it.", Winston Churchill
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